Uber lost more than $800 million in third quarter 2016

[jadillac]

Nah, they are moving onto phase two which is to get rid of the drivers, once they no longer have to pay for them they'll be fine.

those cars still have ppl behind the wheel though.

And actually, over this past wknd, the state of Cali ordered Uber to remove all of them from the road

 

[Wild self]

That wont be Ubers concern though, they want driverless cars because the car will pay for itself in no time.

Even so, tens of millions of people won't have a full time income. Automation will force America to embrace basic income for the sake of saving capitalism itself, or turn America to a permanent Banana Republic.

 

[Saiyajin]

Even so, tens of millions of people won't have a full time income. Automation will force America to embrace basic income for the sake of saving capitalism itself, or turn America to a permanent Banana Republic.

bruh America doesnt even have maternity leave and they cry about giving crumbs for starving families as welfare

we will NEVER see basic income in our lifetime in the USA

Canada, and the EU will definitely get it though, and they will be mocked by conservatives here while these same conservatives kill themselves with alcohol, heroin and literal sucide as the EU countries grow

 

[Poetical Poltergeist]

Even so, tens of millions of people won't have a full time income. Automation will force America to embrace basic income for the sake of saving capitalism itself, or turn America to a permanent Banana Republic.

Trump gonna make murica great again so dont worry about dat.

 

[Malta]

I see this going two ways.

It works well and the company sees millions in profits....
Or it works terribly (cars crash, money has to be paid out in liabilities, lawsuits, etc.) and they continue to put out almost billion dollar losses each fiscal quarter.

Technology is improving rapidly, the Google test cars got into accidents mostly because of how shytty human drivers are in comparison, people just running into their test cars.

if they cant make a profit paying drivers shytty wages, without paying for a single car

how will they make a profit after investing so much capital on Self driving cars (expensive af) ??????

I wouldn't say Uber drivers are paid shytty, the average Uber driver makes $20 an hour, the problem is Uber doesn't pay for gas/insurance. They will bite the bullet on the front end and make the money back on the back end, driverless cars will be more efficient and wont have hours they can't work. I'd imagine they will initially replace the full time Uber drivers first, mainly because those are the people making the most money for them and getting paid the most.

those cars still have ppl behind the wheel though.

And actually, over this past wknd, the state of Cali ordered Uber to remove all of them from the road

They have drivers right now for testing purposes.

The technology is a few years away, Cali will no doubt allow them in the future.

 

[tater]

Even so, tens of millions of people won't have a full time income. Automation will force America to embrace basic income for the sake of saving capitalism itself, or turn America to a permanent Banana Republic.

The sooner the better. A basic income would eliminate the need for a majority of the welfare and benefit programs we have now.

I hope it happens soon

 

[Rigby.]

bruh America doesnt even have maternity leave and they cry about giving crumbs for starving families as welfare

we will NEVER see basic income in our lifetime in the USA

Canada, and the EU will definitely get it though, and they will be mocked by conservatives here while these same conservatives kill themselves with alcohol, heroin and literal sucide as the EU countries grow

Yeah honestly America will probably face some kind of damn lower class revolution once automation becomes a norm, and America really ain't trying to see the current population going brazy all together. They're gonna need a more pussified liberal crowd before they start making moves like that, people they can stifle

 

[4North1Side2]

those cars still have ppl behind the wheel though.

And actually, over this past wknd, the state of Cali ordered Uber to remove all of them from the road

I think it was the DMV of California that ordered them off the road but Uber haven't stopped with the self driving cars because they are still within the law and regulations of operating them.

Long term Uber wants to develop a platform where you can easily install their self driving capabilities to any car like a simple car mod.

The first company that accomplishes this will be the richest company in the world for a long time.

 

[Malik1time]

I'm confused how do they lose money? I thought uber was doing good things

 

[Arithmetic]

They didn't even say why they lost money in the article

I'll make a guess and say that they are sacrificing short term profits for long term market domination. Knowing a little about their biz model I would say that the money is being burned on the following:

1) expansion
2) offices/real estate
3) employee compensation
4) driver insurance
5) driver incentives
6) subsidizing rides (when they give free rides they have to pay drivers out of pocket)
7) legal/regulatory fees
8) lobbying fees
9) marketing
10) driver sign-up bonuses

There are probably over 200,000 uber drivers around the world. Those incentives add up. Eventually they will raise fares, but only after they have completely crushed the competition.

 

[tater]

Technology is improving rapidly, the Google test cars got into accidents mostly because of how shytty human drivers are in comparison, people just running into their test cars.





I wouldn't say Uber drivers are paid shytty, the average Uber driver makes $20 an hour, the problem is Uber doesn't pay for gas/insurance. They will bite the bullet on the front end and make the money back on the back end, driverless cars will be more efficient and wont have hours they can't work. I'd imagine they will initially replace the full time Uber drivers first, mainly because those are the people making the most money for them and getting paid the most.




They have drivers right now for testing purposes.

The technology is a few years away, Cali will no doubt allow them in the future.

I don't know. I think there will be huge pushback from the public on two fronts: people complaining about losing jobs to automation, and those just not willing to ride in a self driving car. While I'm sure it's 100% safer, many people still wouldn't be comfortable with the idea. Also, I think these types of cars should go the consumer route first and then introduce it to the public as a public trans option.

More people are becoming aware of technology's encroachment on the middle and lower classes. While it's menial jobs today, tomorrow it's the engineers and the lawyers. Everyone thinks their job is safe but no ones is. People are realizing this and pushing back. These types or things won't happen en masse until some major concessions are made with the way our economy and work life are. Or there will be a revolt. I think...lol.

I'm surprised they lost so much honestly. Disappointing they didn't say why. I want to know lol.

 

[Vinny Lupton]

All these tech apps lose boatloads money. Their goal is to grow rapidly, get hot, and either get acquired or kash out on a IPO. Tidal, Spotify, Twitter, etc. It aint cheap to pay a bunch of coders to sit in a loft building in downtown SF and pay yourself as the CEO

I'm confused how do they lose money? I thought uber was doing good things

You're a weed dealer, you buy pounds from the plug, you set up shop and have prices lower than they should be because you want everyone in town coming to you and also keep your competitors from being able to eat because you're undercutting them. At the same time you pay a bunch of Lil Young whatever rappers to perform at free shows so you can look like "the man". And you are stunting in a 2017 whatever car. Also you start to invest in gardening technology and secuirty for your garden so you can stop relying on "papi". You are still selling weed but you are spending more than you're earning

 

[Auger]

I see this going two ways.

It works well and the company sees millions in profits....
Or it works terribly (cars crash, money has to be paid out in liabilities, lawsuits, etc.) and they continue to put out almost billion dollar losses each fiscal quarter.

Other industries have a vested interest in driverless cars, even more than UBER. I think modern logistics is one industry that is anticipating this future.

 

[Saiyajin]

probably spent a shytload of money lobbying politicans who wanted to ban it

 

[Donald Trumps Twitter]

time to start investing in a taxi